Tata Motors to increase prices of its commercial vehicles from April 1

22 Mar 2022 , 01:07 PM

Tata Motors, India’s largest commercial vehicle manufacturer, has announced an upcoming price hike of its commercial vehicle range. The company plans to increase prices in the range of 2-2.5% which shall be effective from April 1, 2022, across the range, varying according to the individual model and variant.

The company has rolled out this decision considering the hike in prices of commodities such as steel, aluminium, and other precious metals, along with higher costs of other raw materials.

The company informed that even though it has increased measures to absorb a significant portion of the increased costs at various manufacturing levels, the sharp rise in overall input costs makes it imperative to pass on some residual through this minimized price hike.

Tata Motors strives to bring new products that fire the imagination of GenNext customers, driven by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. With an emphasis on engineering and tech-enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are targeted to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers.

Tata Motors is currently trading at Rs427.80 down by Rs0.15 or 0.04% from its previous closing of Rs427.95 on the BSE. The scrip touched today’s high and low of Rs429.95 and Rs421.35 respectively.